Page 23 - Gabriel Ehrlich News Today : Breaking News, Live Updates & Top Stories | Vimarsana

University of Michigan The U.S. and Michigan economies are showing signs of the recovery experts hoped for as the population emerges from the pandemic, say University of Michigan economists. Real gross domestic product-the value of everything produced in a country-has expanded at a 6.4% annualized pace in the first quarter of this year. That’s even better and sooner than expected, economists say, energized by two recent rounds of government stimulus checks and generous unemployment benefits. What’s more, real GDP would have grown at a 9.1% annualized pace were it not for strong consumer d...

Economists from the University of Michigan forecast a vigorous economic recovery in Livingston County, but say some economic indicators still are concerning. University of Michigan economists Gabriel Ehrlich and Donald Grimes released a report this week on the county's economic outlook in 2021-2023.  While some economic indicators point to a strong comeback in the county in terms of job growth and declining unemployment, other indictors concern them, including low wages. The economists also say some industries won’t fully bounce back within the next few years. The study, which the UM Res...

LANSING – The coronavirus pandemic could permanently change the U.S. and Michigan economies in ways that will have unknown impacts on future state tax revenues, economists told state officials at a Friday revenue estimating conference.The pandemic is accelerating the shift from brick-and-mortar retail sales to online sales, which negatively impacts employment.It is depressing business travel, which impacts car rentals and auto sales, and that could particularly impact Michigan if the

Federal stimulus, more online shopping means $1.2B more tax revenue for Michigan than expected Updated Jan 16, 2021; Facebook Share Federal funding and a big boost from online consumer spending filled Michigan’s coffers with more money than initially expected — but experts warned the deep economic impacts of the COVID-19 pandemic will still likely be felt for years. The Michigan Department of Treasury and the state House and Senate fiscal agencies projected Friday that the state will collect $24.3 billion in revenue for the general and school aid funds, up $1.2 billion from estimates mad...

The shift to online meetings, if it continues beyond the pandemic, would hurt car rentals and auto sales. The auto industry is still key in Michigan.